$LIT and Technical Analysis Perspective.
1️⃣ The price returns to the Base area in 3 waves: 1, 2, 3. All three waves fail to create new highs, just a pullback.
=> Weak upward momentum
2️⃣ The ellipse-shaped area marked with t is a CP wave. This is a compression wave, usually with two types:
- CPD (CP Down) and CPLQ (CP Liquidity)
CPD is a compression wave that reaches a certain resistance area and then drops back to the starting point of the wave. Here, I'm looking at the Base 2 area.
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#LITProjectTwo #LIT
CPLQ is a compression wave that reaches a certain resistance area but with weak resistance. It usually makes a false upward movement before dropping back.
Here, I'm placing a CPD order.
There's a possibility of touching Base 2 with a slight reaction and then dropping back to Base 1.
1️⃣ The price returns to the Base area in 3 waves: 1, 2, 3. All three waves fail to create new highs, just a pullback.
=> Weak upward momentum
2️⃣ The ellipse-shaped area marked with t is a CP wave. This is a compression wave, usually with two types:
- CPD (CP Down) and CPLQ (CP Liquidity)
CPD is a compression wave that reaches a certain resistance area and then drops back to the starting point of the wave. Here, I'm looking at the Base 2 area.
FREE Signals And Trading Group Link In Bio🔝✅
#LITProjectTwo #LIT
CPLQ is a compression wave that reaches a certain resistance area but with weak resistance. It usually makes a false upward movement before dropping back.
Here, I'm placing a CPD order.
There's a possibility of touching Base 2 with a slight reaction and then dropping back to Base 1.